SoSo Daily Aug 28

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on August 27, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.18 trillion US dollars, witnessing a decrease of 6.43% compared to yesterday; the total trading volume is 101.08 billion US dollars, marking an increase of 27.8% from the previous day.

According to sosovalue, the price of $BTC is 59,438 USD, a decrease of 5.4% from yesterday. The market cap of $BTC is 1.17 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 38.08 billion USD, making up 37.7% of the total trading volume.
The price of $ETH is 2,457.5 USD, down 8.32% from yesterday; the market cap of $ETH is 295.63 billion USD, representing 13.5% of the total market cap; $ETH's 24-hour trading volume is 17.06 billion USD, comprising 16.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.6% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is L7DEX (LSD7). As of 23:55 today, its market cap is 185.36K, with a coin price of 0.0038910 USD, witnessing a 24-hour increase of 130%.
The second is BarnBridge (BOND). As of 23:55 today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is Ruby Protocol (RUBY). As of 23:55 today, its coin price is 0.0013400 USD, showing a 24-hour increase of 32.7%.
In fourth place is IDEX. As of 23:55 today, its coin price is 0.047020 USD, with a 24-hour rise of 21.8%.
In fifth place is V.SYSTEMS (VSYS). As of 23:55 today, its coin price is 0.0015550 USD, increasing by 19% over the last 24 hours.


Moving on, let's take a look at the sector performance in the crypto market.
According to sosovalue, out of 16 sectors, 1 is up and 15 are down. Notably, DeFi, Meme, and $ETH sectors are worth mentioning.
DeFi sector has fallen -6.3% relative to the UTC 0 time, led by declines in CVP (-62.5%), FOR (-41.6%), and AMKT (-24.1%).
Meme sector has decreased -6.48% relative to UTC 0, with SFM (-21.6%), DOG (-20.8%), and RFD (-15.8%) leading the drop.
$ETH sector has fallen -8.32%, with $ETH (-8.32%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced $202.51 million in net inflows on Monday, marking the eighth consecutive day of positive flows, with a total of $756 million over the past eight days. BlackRock's IBIT fund led with $224.06 million, the largest inflow for the day. Other funds like Franklin Templeton’s EZBC and WisdomTree’s BTCW also saw inflows, while Bitwise’s BITB and others recorded outflows. The trading volume for bitcoin funds decreased to $1.2 billion, reverting to typical levels, with a total of $18.08 billion in net inflows since January. In contrast, U.S. spot ether funds continued to see negative flows, with $13.23 million in net outflows on Monday, led by Grayscale’s ETHE. Ether funds have accumulated total net outflows of $477.88 million. Bitcoin's price dropped 1.54% to $63,077, and ether fell 2.26% to $2,689.
Next news:

Next news:Telegram CEO Pavel Durov was arrested at Le Bourget airport in Paris on August 24, 2024, as part of a cybercrime investigation by French authorities. The Tribunal Judiciaire de Paris stated that the arrest is linked to allegations of providing unauthorized cryptology services and tools. The charges include providing cryptology services without certification, using cryptology tools that do not ensure only authentication or integrity monitoring, and importing such tools without prior declaration. Additional charges involve complicity in possessing pornographic images of minors and laundering proceeds from organized crimes. Durov can be held until August 28 for questioning. Prominent figures in the cryptocurrency industry, including Elon Musk and Vitalik Buterin, have shown support for Durov.
Next news:CME Group has announced that it will launch Bitcoin Friday futures (BFF) on September 30, 2024. It offers a precise and flexible way to trade bitcoin exposure. Each BFF contract represents 1/50 of a bitcoin, ensuring capital efficiency and accessibility. These shorter-dated contracts expire to the CME CF Bitcoin Reference Rate New York Variant every Friday at 4:00 p.m. ET.

Next news:The U.S. Securities and Exchange Commission (SEC) has charged brothers Jonathan and Tanner Adam with attempting to defraud over 80 investors through a $60 million Ponzi scheme using a crypto asset trading platform. The announcement was made on Monday.
Next news:The Ethereum Foundation is preparing a new report covering 2022 and 2023, which is expected to be released before Devcon SEA. Vitalik said his salary is 182,000 SGD per year (about 139,000 USD). The largest expenditure in 2023 is the new institution category, accounting for 36.5%, including Nomic Foundation, Decentralization Research Center, L2BEAT, 0xPARC, etc.
Next news:Microsoft-backed startup Space and Time Labs raised $20 million in Series A financing, bringing its total funding to $50 million. Aave Labs proposed integrating BlackRock's tokenized BUIDL fund into its GHO Stability Module to enhance Aave's stablecoin system. MakerDAO rebranded to Sky, planning to launch new versions of its DAI and MKR tokens on September 18. Nasdaq, in partnership with CF Benchmarks, filed with the SEC to list and trade Bitcoin Index Options. Resistance Dog, a memecoin on the TON blockchain, surged over 140% after being adopted as the official avatar for Toncoin.
Next news:Wu learned that, according to @ai_9684xtpa, the whale who entered the $ETH market in 2016 allegedly sold 999 $ETH at a cost as low as $5.24 three hours ago, making a profit of $2.67 million. The OG withdrew 5640 $ETH from Kraken in 2016 at an average price of $5.24 and distributed the tokens to 14 addresses; among them, the address 0x255...41912 withdrew the tokens deposited in RocketPool a year ago and recharged them into Binance three hours ago. Currently, he still holds 2,392 $ETH, dispersed in four addresses, with an unrealized profit of $6.42 million.
Next news:Solana Optimistic Network, also known as SOON, has successfully completed a funding round termed a 'cobuilder' round, which notably did not include venture capital firms. Key participants in this round included prominent figures such as Solana Foundation Chairman Lily Liu, Solana Labs co-founder Anatoly Yakovenko, and executives from Coinbasae Ventures, Celestia Labs, Avail, and Wormhole Foundation. The funds from this round are intended to develop SOON into a high-throughput rollup stack aimed at enhancing scalability and efficiency for decentralized applications across various blockchains. The initiative includes the development of SOON Stack and SOON Mainnet, which are designed to integrate with Ethereum and potentially revolutionize the user experience across multiple blockchain ecosystems.
Next news:Over 300,000 Telegram users have signed a letter on the app, advocating for the release of its CEO, Pavel Durov, who was recently detained in France. The letter, accessible through a mini-app launched by TON Society, condemns Durov's arrest as an attack on free speech. Durov was arrested at a Paris airport as part of a cybercrime investigation related to cryptology services. Prominent figures in the crypto community, including Elon Musk and Justin Sun, have voiced their support for Durov.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.